Switzerland to Offer Limited Online Gambling Licenses

Countries that are part of the European Union (EU) are subject to the laws and regulations of the European Commission (EC), and as such are facing increasing pressure to eradicate any monopolistic gambling infrastructures they still have in place, to allow access to foreign online gambling operations.

One of the latest EU member states to succumb to EC pressure to be compliant is Switzerland, a country famous for its neutrality, chocolate, time pieces and its safe and discreet banking system. Online gambling will soon be added to that list, as the Swiss government has finally agreed to liberalize its gambling policies.

Traditionally Switzerland has kept a tight rein on its gambling policies, but now it seems that the country will grant gambling licenses to select few online gaming firms to allow them to operate in the country. However, the government still intends to keep its ban in place to prevent wagering over the telephone or the internet.

According to reports, the Swizz government has decided to follow EC directive regarding online gambling as a result of an increase in illegal online gambling operations that are operating in the country. As such, by legalizing and regulating the activity, it will be in a better position to eradicate said illegal operations.

Proposed changes to Switzerland's online gambling policies have been spearheaded by the country's Justice Ministry. But before the changes can be implemented, they must first be passed unanimously by the Swiss Parliament. The only hitch is that the proposed changes may favor local licensed online gaming providers.

If this proves to be the case, EC officials will no doubt contact the Swiss government to ensure that all online gambling operators that fall under the jurisdiction of the EU are treated the same as Swiss firms. Another reason for the nation's online gambling 'about turn' is the taxable income legalized online gambling will generate.

There are indications that the Swiss government could benefit from as much as $22 million per year in taxes levied on online gambling revenues. The last EU country to become 'online gambling compliant' was Denmark, which recently ended the gambling monopoly the state controlled and protected for over 60 years.